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Created Product Essay

855 words - 4 pages

Wayne Steinkamp
American Intercontinental University
Unit 1 Individual Project
MKTG 205 – Principles of Marketing

Laundry detergent is a highly competitive market with growing changes in how it can be marketed. As the world grows laws become stricter on F.D.A. and E.P.A. regulations. Generations change and so do many societies that evolve in better living conditions. People demand more for less and detergent companies seem to stay in the market with their demands.

The Market of Laundry Detergent
As demands by consumers change so do the detergent companies to meet that demand. Marketing plays a key role in how well the change stays in demand with ...view middle of the document...

Good economic growth drives demand in commercial sector such as hotels. Profitability depends on efficient operation, effective sales, and marketing to deliver these detergents at the demand. Such avenues as the rise in senior citizens here in the U.S.A. of age 65 and older will drive the demand in nursing homes for more detergent while such companies of Procter Gamble and Colgate-Palmolive compete to get their business. Small companies can compete with these big dogs by offering specialized products, providing superior customer service, and serving local markets. The rapid urbanization and rising incomes in developing countries are expected to increase demand for soaps and detergents (hoover, 2013). These large companies have scale advantages in purchasing of raw material, manufacturing, distributing, and marketing to meet the expected increase in demand.

Market Force 3: Description and Analysis of impact on product/service
Another factor is a whole industry of its own that relies on detergents to exist is the Linen and Uniform Supply services. This industry is expected to have a growth rate of 6% from 2013 to 2017 (Hoover,2013). This means more detergent needed to clean the uniforms of its customers resulting in more demand on the detergent industry. While their industry goes thru restraints with its own restrictions ultimately detergent companies don’t want to see them fail as this is a avenue of revenue for them in their bottom line. More hotel chains are outsourcing their laundry to these companies...

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